The US Supreme Court’s ruling against President Trump’s tariffs has led to a halt in their collection, effective February 24, 2026. This decision, however, does not affect other tariffs imposed by Mr. Trump under different legal authorities. The U.S. Customs and Border Protection (CBP) agency stated that it would deactivate tariff codes associated with prior International Emergency Economic Powers Act (IEEPA) orders. This ruling could potentially make over $175 billion in U.S. Treasury revenue subject to refunds. Meanwhile, Indonesia is exploring cooperation with Indian technology leaders to bolster its semiconductor and artificial intelligence supply chains. President Prabowo Subianto of Indonesia has affirmed the country’s readiness to adapt to potential shifts in U.S. trade policies.
In international news, India has strongly condemned Pakistan’s recent airstrikes on Afghan territory, which resulted in civilian casualties. New Delhi characterized these strikes as an attempt by Pakistan to “externalize its internal failures” and reiterated its support for Afghanistan’s sovereignty. In other cultural news, the Indian Manipuri-language film ‘Boong’ has won the BAFTA award for Best Children’s & Family Film.
Tragically, a passenger bus fell from a hillside in Nepal on Monday, February 23, 2026, killing 19 people, including a British national. A New Zealander was among those injured in the accident.
On the economic front, a new report indicates that gaps in adaptation taxonomies are hindering climate finance in Asia. The report highlights that weak and inconsistent criteria within Asian taxonomies are constraining the flow of climate finance, leading to a significant funding gap.
In a surprising development, trust in banks has recovered and is now stronger than before in countries most affected by the 2008 global financial crisis. In 2025, across 25 of these countries, a median of 63% expressed confidence in their financial institutions and banks, marking a new high. This recovery is particularly notable in the Czech Republic and Japan, which have seen the largest increases in trust.
Meanwhile, the publishing industry is seeing shifts, with Kodansha reporting mixed results but digital growth, and Spotify’s audiobook launch in Sweden significantly expanding the market. In Russia, the book market has grown, driven by digital and audio formats.
In European news, the Czech Republic is experiencing flooding due to heavy rain and melting snow, with first-level flood alerts issued on several rivers. Meteorologists expect water levels to peak soon before receding.
Finally, the United Nations Chief has voiced concerns over a global human rights crisis, noting that international law is being challenged and civilians are increasingly vulnerable.
